Facebook Inc. (NASDAQ:FB)‘s stock had its “buy” rating restated by research analysts at Bank of America Corp. in a research note issued on Monday. They currently have a $150.00 price target on the social networking company’s stock. Bank of America Corp.’s price objective would indicate a potential upside of 17.82% from the company’s current price.
Several other equities analysts have also weighed in on the company. SunTrust Banks Inc. reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Facebook in a research note on Tuesday, May 31st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Facebook in a research note on Tuesday, June 21st. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $121.02 price target on the stock in a research report on Monday, June 13th. Goldman Sachs Group Inc. boosted their price target on Facebook from $142.00 to $162.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, William Blair reissued an “outperform” rating on shares of Facebook in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating, forty-four have given a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $149.69.
Shares of Facebook (NASDAQ:FB) traded down 0.51% during trading on Monday, reaching $127.31. 15,059,835 shares of the company’s stock traded hands. Facebook has a 1-year low of $85.72 and a 1-year high of $131.98. The company has a 50 day moving average price of $126.45 and a 200 day moving average price of $118.37. The stock has a market capitalization of $365.59 billion, a PE ratio of 60.86 and a beta of 0.76.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.82 by $0.15. The company earned $6.44 billion during the quarter, compared to analysts’ expectations of $6 billion. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The firm’s revenue was up 59.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. On average, equities analysts forecast that Facebook will post $3.94 EPS for the current fiscal year.
In other news, CAO Jas Athwal sold 4,923 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $124.07, for a total value of $610,796.61. Following the sale, the chief accounting officer now directly owns 125,394 shares in the company, valued at $15,557,633.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David B. Fischer sold 35,000 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $130.32, for a total value of $4,561,200.00. Following the completion of the sale, the vice president now owns 204,686 shares in the company, valued at $26,674,679.52. The disclosure for this sale can be found here. Company insiders own 19.08% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Stelac Advisory Services LLC bought a new stake in Facebook during the first quarter worth about $106,000. Bartlett & Co. LLC increased its position in shares of Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares during the period. Kings Point Capital Management increased its position in shares of Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock worth $136,000 after buying an additional 200 shares during the period. Balentine LLC increased its position in shares of Facebook by 512.6% in the second quarter. Balentine LLC now owns 1,213 shares of the social networking company’s stock worth $139,000 after buying an additional 1,015 shares during the period. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock worth $140,000 after buying an additional 18 shares during the period. Institutional investors own 56.61% of the company’s stock.
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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